[LINKS]: Links of the week

See all the links and our weekly headline roundup here.

  • Wasted Wind Power Increases UK Household Energy Bills: A think tank reports that inefficiencies in wind power transmission are adding £40 to household energy bills, with a potential rise to £180 by 2030 due to a bottleneck in transmission between Scotland and England. Read more
  • Metro Bank Cancels £3bn Mortgage Portfolio Sale: Metro Bank has abandoned its plan to sell a £3bn portfolio of residential mortgages, citing current market conditions as the primary reason. Read more
  • Bristol Council Uses Bailiffs for Council Tax Debts Despite Ethical Pledge: Contradicting its commitment to ethical debt collection, Bristol City Council has sent over 2,000 council tax debts to bailiffs in the last six months. Read more
  • UK Urged to Adopt Australian Regulatory Model: A Social Market Foundation think tank paper recommends that the UK follow Australia’s approach to regulation for improved effectiveness. Read more
  • Improving Credit Scores Could Substantially Increase Borrowing Capacity: Enhancing credit scores might boost the borrowing capacity of subprime consumers by nearly 70%. Read more
  • Stagnation in UK Productivity Performance: Recent data offers little change in the long-term perspective on the UK’s slowed productivity gains. Read more
  • Forecast: UK House Prices to Drop in 2024: Predictions indicate a potential 4% decrease in UK house prices during 2024 due to various economic factors. Read more
  • Energy Debt in UK Reaches £2.9 Billion: Ofgem reports a significant increase in energy debt, prompting new proposals to manage the crisis. Read more
  • Ofcom Considers Ban on Inflation-Linked Price Rises in Contracts: The UK’s communications regulator proposes a ban on annual inflation-linked price increases in service contracts. Read more
  • Growing Use of Bailiffs for Council Tax Debt Collection in Bristol: Despite a previous commitment to an ethical approach, Bristol City Council has increasingly referred council tax debts to enforcement agencies. Read more
  • GenAI Adoption Driven by Five Key Forces: A Gartner survey indicates significant momentum in the adoption of generative AI technologies among executive leaders. Read more
  • Train Ticket Websites Warned Over Hidden Fees: The UK rail regulator addresses concerns about non-transparent booking fees on train ticket websites. Read more
  • Christmas Energy Bill Concerns Escalate in the UK: Charities warn of increasing numbers of people borrowing money to pay essential bills, especially energy, during the holiday season. Read more
  • Cruise, a Driverless Car Firm, to Cut 900 Jobs: Amid regulatory challenges, Cruise plans significant job reductions in its self-driving vehicle division. Read more
  • Financial Complaints Related to Motor Vehicles Rise in the UK: The Financial Ombudsman reports an increase in complaints regarding the financing and insuring of vehicles. Read more
  • Rise in UK Citizens Seeking ‘Breathing Space’ for Debt Problems: National Debtline reports an increase in people requiring government-supported debt relief schemes. Read more
  • Guidance for Vulnerable Customer Support in Water Services: Ofwat sets out new guidelines for water companies to assist customers in England and Wales who require extra help. Read more
  • Bank of Ireland UK Reprimanded for Inaccurate Customer Data: The ICO reprimands Bank of Ireland UK for sending inaccurate data to credit reference agencies, impacting customers’ credit scores. Read more
  • NatWest Under Review for Possible Violation of FCA Rules: A review into NatWest’s debanking practices suggests potential breaches of financial conduct regulations. Read more
  • Ofgem’s New Proposals Amid Rising Energy Debts: The energy regulator’s latest proposals aim to address the growing £2.9 billion energy debt in the UK. Read more
See also  [LINKS]: Links of the week

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